Stautory Redundancy Pay

rach83

Hi

Our office have been told today that there are going to be redundancies.

I have worked for the company for 2.5 years and I wondered what the basic stautory redudancy pay would be.

Many thanks

mymatebob

rach83 wrote: »

Hi

Our office have been told today that there are going to be redundancies.

I have worked for the company for 2.5 years and I wondered what the basic stautory redudancy pay would be.

Many thanks

From the BERR website

http://www.berr.gov.uk/whatwedo/employment/employment-legislation/employment-guidance/page33683.html

Redundancy Payments: Ready Reckoner

The redundancy payment due to each employee under the statutory redundancy payment scheme depends on his or her age and length of service (up to twenty years). This determines the number of weeks pay due, which is then subject to a limit on weekly pay.
To calculate the number of weeks pay due, you should use the following amounts –

• 0.5 week’s pay for each full year of service where age during year less than 22
• 1.0 week’s pay for each full year of service where age during year is 22 or above, but less than 41
• 1.5 weeks’ pay for each full year of service where age during year is 41+

Eckythump_2

Not sure you'll be entitled to anything as, if I understand the rules correctly, there is nothing for the first two years and then only full years after that are counted.

andrewmp

Eckythump wrote: »

Not sure you'll be entitled to anything as, if I understand the rules correctly, there is nothing for the first two years and then only full years after that are counted.

Nah, it's nothing for less than two years but the first two years count after that (as long as you weren't too young for those years).

msflowerfairy

I have just been made redundant, and have worked for my company for two years. I am entitled to £660 for two years service.
That is statutory redundancy pay.

pinkzebra

Also note the maximum limit for statutory redundancy pay, is £330 per week(and that is if you are over 41). eg if you are 50 , and have been with your company, say, 8 years, you would get 8 x £330 (not much really).

Here is a link to a 'redundancy calculator'. just type in your job details and it will tell you how much you are entitled to.

http://www.direct.gov.uk/en/Diol1/DoItOnline/DG_4017972

andrewmp

pinkzebra wrote: »

Also note the maximum limit for statutory redundancy pay, is £330 per week(and that is if you are over 41). eg if you are 50 , and have been with your company, say, 8 years, you would get 8 x £330 (not much really).

Here is a link to a 'redundancy calculator'. just type in your job details and it will tell you how much you are entitled to.

http://www.direct.gov.uk/en/Diol1/DoItOnline/DG_4017972

No you wouldn't

You would get £3960, the calculator you linked to says you get 12x£330

captain_nugget

I believe it goes up to 350 at the end of Jan. I only know this as i'm about to be made redundant and my employers were pursuaded to bring this rate forward.

needaspirin

Statutory maximum weekly payment is £350 from 1/2/2009


Redundancy Calculator

nzmegs

Does the stautry payment apply if you are part time/job share or is it prorata?

b0ardrider

nzmegs wrote: »

Does the stautry payment apply if you are part time/job share or is it prorata?

..and if you were full time for a number of years then went part time after having a baby (same department, similar role), should redundancy include those earlier full time years in any calculation?